Paytm money app rated 2.9/5 by android users

Paytm parent One97 Communications has made a $10-million investment in the mobile-based mutual fund investment platform which was formally launched on September 3.

NEW DELHI: Paytm Money, an investing app launched less than a fortnight ago, received lukewarm reviews from Android phone users who gave it a 2.9 out of 5 rating though over 9.6 lakh users have made requests to register on the platform, data in the public domain show.

Paytm parent One97 Communications has made a $10-million investment in the mobile-based mutual fund investment platform which was formally launched on September 3.

A spokesperson for Paytm Money termed users’ interest in the app “unprecedented” in an emailed response to ET’s queries. “The app is very well appreciated and has received overwhelmingly positive response for its well thought out product & investing experience that has exceeded user’s expectations,” the spokesperson said.

The app offers users options to invest in mutual funds of over 25 asset management companies without paying any commissions or advisory fees. Users can complete knowyour-customer (KYC) processs on the app itself without any physical documentation.

Times Internet-backed ETMoney, was launched recently and offers users the ability to invest in over 1,000 mutual funds without paying any commissions.
Times Internet is part of the Times Group that publishes this newspaper and the Economic Times website.